Rajesh Agarwal, Head of Research, Eastern Financiers Limited told CNBC-TV18, "One should hold Jaiprakash Associates as the management has been trying to reduce its debt very aggressively. They are trying to sell Gujarat cement plant by March 2014, which is valued at around Rs 4,000 crore. Moreover, with interest rates likely to peak out, we believe that it is just a matter of time when infrastructure companies start performing."
He further added, "With the kind of portfolio JP Associates heads of cement, engineering, procurement and construction (EPC), real estate, its holding in Jaypee Infra and Jaiprakash Power, one has to hold for some time horizon of maybe 6-9 months and one can have a price target of Rs 80. Even if one wants to buy one can buy it around Rs 50."
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